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Residential Status – Multiple Countries with Double Taxation Avoidance Agreements (DTAA) Benefits I. Tax Residency under Foreign Laws After determining their residential status in India, an individual should also assess their residential status according to the local laws of the…

Bank Accounts and Deposits for NRIs in India Non-Resident Indians (NRIs) can open various types of bank accounts in India to manage their financial transactions efficiently. These accounts cater to their specific needs and are classified as follows: 1. Non-Resident…

Introduction For any individual undertaking any transaction in India or outside India, the most critical issues are the taxability of the transaction from a tax point of view and its permissibility from a FEMA perspective. Before addressing complex issues related…

Prior to introduction of finance bill 2022 there was no clarity in tax regulations for tax treatment for virtual digital assets popularly knows as Crypto assets. There was no clear definition and understanding for recognition of various available and new…

RBI warns against use of LRS scheme by individuals for forex trading on unauthorized platforms. Country central bank RBI has warned people undertaking transaction for the purpose other than those permitted under the Foreign Exchange Management Act, (FEMA) or on…

India currently is on the verge of the biggest Indirect tax reform since independence whereby the erstwhile regime of multiple taxes on manufacture / sale / supply of goods is being replaced by a common GST on supply of goods…

RBI clarifications under Foreign Exchanges Management Act (FEMA) for start-ups for issues of shares against legitimate payments owed by start-ups and accepting payments by foreign subsidiaries of such start-ups against export and other dues. As announced in sixth Bi Monthly…

What is a Virtual CFO? Virtual CFO (or “vCFO” for short) stands for Virtual Chief Financial Officer. A Virtual CFO is an outsourced service provider offering high skill assistance in financial requirements of an organization, just like a chief financial officer does for large organizations. Why…